Wednesday, May 25, 2016

Morning News - 25 May 2016 - GENT / HLBK / GENM / UMW / FGV / KRI / STAR / AAX / SCIC / APRO / AMRB

Today’s Highlights
►    Results Note – Genting (HOLD, maintain) - A decent start
►    Results Note  – Hong Leong Bank (HOLD, maintain) - Qoq rebound, results within expectations
►    Results Note – Genting M’sia (BUY, maintain) - UK operations continue to improve
►    Results Note – UMW Holdings (SELL, downgrade) - Dragged down by both O&G and automotive
►    Results Note – Felda Global Ventures (SELL, maintain) - Core net loss in 1Q16, maintain SELL
►    Results Note - Kossan (HOLD, downgrade) - ASP worries
►    Results Note  – Star Media (SELL, maintain) - Weak results due to print segment
►    Results Note  – Air Asia X (BUY, upgrade) - The return of China and Australia markets
►    Results Note – SCICOM (MSC) (BUY, maintain) - Earnings continue to rise
►    Results Note – Amcorp Properties (BUY, maintain) - Dividend suprise
►    Results Note – Alam Maritim (HOLD, maintain) - 1Q16 below expectations on weak revenue



Outside Malaysia            
►    US stocks rally as housing data bolster optimism on economy
►    US new-home sales surge to highest level in eight years
►    US households’ mortgage debt rises to four-year high, Fed says
►    ECB warns of financial turbulence as populism adds to risks
►    German economy expands on fastest investment growth in two years
►    German slip in confidence signals slowdown after bumper quarter
►    Brazil records first current account surplus since 2009
►    Oil advances as US crude inventories projected to decline

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